Related papers: Insurance Contract for High Renewable Energy Integ…
In this paper, we consider the problem of preferentially utilizing intermittent renewable power, such as wind, optimally to support thermal inertial loads in a microgrid environment. Thermal inertial loads can be programmed to…
Future greenhouse gas neutral energy systems will be dominated by renewable energy technologies providing variable supply subject to uncertain weather conditions. For this setting, we propose an algorithm for capacity expansion planning: We…
The new energy system constructed by energy storage and photovoltaic power generation system can effectively solve the problem of transformer overload operation in some enterprises. It can not only reduce the cost of electricity, but also…
The uncertainty quantification and risk modeling are hot topics in the operation and planning of energy systems. The system operators and planners are decision-makers that need to handle the uncertainty of input data of their models. As an…
We propose a model in which, in exchange to the payment of a fixed transaction cost, an insurance company can choose the retention level as well as the time at which subscribing a perpetual reinsurance contract. The surplus process of the…
Integrating renewable energy production into the electricity grid is an important policy goal to address climate change. However, such an integration faces economic and technological challenges. As power generation by renewable sources…
The increase of renewables in the grid and the volatility of the load create uncertainties in the day-ahead prices of electricity markets. Adaptive robust optimization (ARO) and stochastic optimization have been used to make commitment and…
How should successive generations insure each other when the young can default on previously promised transfers to the old? This paper studies intergenerational insurance that maximizes the expected discounted utility of all generations…
In the 21st century, transitioning to renewable energy sources is imperative, with fossil fuel reserves depleting rapidly and recognizing critical environmental issues such as climate change, air pollution, water pollution, and habitat…
As humanity accelerates its shift to renewable energy generation, people who are not experts in renewable energy are learning about energy technologies and the energy market, which are complex. The answers to some questions will be obvious…
The rapid uptake of renewable energy technologies in recent decades has increased the demand of energy researchers, policymakers and energy planners for reliable data on the spatial distribution of their costs and potentials. For onshore…
Two-stage robust unit commitment (RUC) models have been widely used for day-ahead energy and reserve scheduling under high renewable integration. The current state of the art relies on budget-constrained polyhedral uncertainty sets to…
The rapid expansion of wind and solar energy leads to an increasing volatility in the electricity generation. Previous studies have shown that storage devices provide an opportunity to balance fluctuations in the power grid. An economical…
We analyze the potential of reinsurance for reversing the current trend of decreasing capital guarantees in life insurance products. Providing an insurer with an opportunity to shift part of the financial risk to a reinsurer, we solve the…
Renewable energy has attracted significant attention over the last decade, conceivably due to its environmental benefits and the recent drops in the development and deployment cost of the technology. The increase in renewable generation,…
This paper proposes a novel continuous-time dynamic contract framework that has a risk-limiting capability. If a principal and an agent enter into such a contract, the principal can optimally manage its performance and risk with a guarantee…
This paper proposes an optimal management strategy for a Renewable Energy Community defined according to the Italian legislation. The specific case study is composed by a set of houses equipped with smart appliances, that share a PV plant.…
Energy infrastructure planning under uncertainty has become increasingly complex as electrification, interdependence between energy carriers, decarbonization, and extreme weather events reshape long-term investment decisions. This paper…
A market consisting of a generator with thermal and renewable generation capability, a set of non-preemptive loads (i.e., loads which cannot be interrupted once started), and an independent system operator (ISO) is considered. Loads are…
As the world is transitioning towards highly renewable energy systems, advanced tools are needed to analyze such complex networks. Energy system design is, however, challenged by real-world objective functions consisting of a blurry mix of…